McEwen Mining Secures Renewable Energy Partner for Los Azules

Group 1: Agreement and Renewable Energy Initiatives - McEwen Mining's subsidiary, McEwen Copper, has signed an agreement with YPF Luz to power the Los Azules copper mine with 100% renewable energy, aligning with the company's goal of becoming fully renewable [1][5] - The Memorandum of Understanding (MOU) allows YPF Luz to negotiate the exclusive energy supply for the Los Azules project, involving renewable energy via a high-voltage transmission line that YPF Luz will create and finance [2][4] - The project aims to be carbon-neutral by 2038, with a focus on lower water consumption and carbon emissions compared to conventional copper mining practices [5] Group 2: Financial Performance - In Q2 2024, McEwen Mining reported a 38.2% year-over-year increase in revenues, reaching $47 million, surpassing the Zacks Consensus Estimate of $44 million [6] - The company experienced a loss per share of 26 cents, an improvement from a loss of 46 cents in Q2 2023, while the consensus estimate was a loss of 22 cents [6] Group 3: Stock Performance - McEwen Mining's shares have increased by 9.7% over the past year, contrasting with a 0.5% decline in the industry [7]